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1. The Defendant’s KRW 2,244,55,484 as well as the Plaintiff’s KRW 12% per annum from March 25, 2015 to January 31, 2016, and the following.
Reasons
1. Basic facts
A. On September 12, 2013, C Co., Ltd. (hereinafter “C”) acquired non-guaranteed private equity bonds (interest rate of KRW 5.71% per annum; hereinafter “instant bonds”) issued by the Defendant (hereinafter “instant bonds”). On the same day, the Plaintiff entered into a contract for transfer of securitization assets with C, and acquired the right to the instant bonds under the Asset-Backed Securitization Act.
B. Article 4 subparag. 13(b) of the Agreement on the Contract of the Bonds provides that “When profits under subparagraph 18 have been lost, overdue interests shall be paid at the rate of damages determined by the Credit Guarantee Fund for the outstanding principal and interest of the bonds during the period from the date of loss of profits under subparagraph 18 (including the due date) to the date of actual payment (including the due date).” Article 4 subparag. 18(d) of the Agreement provides that “The Defendant shall lose the profits under the terms of bonds or loans other than the bonds of this case or discharge its obligations.”
C. On March 12, 2015, the Defendant paid interest on the instant bonds, and on March 25, 2015, the Defendant lost the interest on the instant bonds in accordance with Article 4 subparag. 18(d) of the Agreement on the Subscription of the instant bonds due to the delay of performance of other obligations.
The rate of damages determined by the Credit Guarantee Fund shall be 12% per annum from December 1, 2012 to January 31, 2016, and 10% per annum from the following day to March 31, 2019, and 8% per annum from the following day to the next day.
[Ground of recognition] Unsatisfy, entry of Gap evidence 1 to 5, purport of whole pleadings
2. Determination
A. According to the facts acknowledged earlier, the Defendant paid the Plaintiff the principal of the instant bonds KRW 2240 million and the last interest rate of KRW 13 days from March 12, 2015 to March 24, 2015, which was the day before the day when the benefit of time was lost, i.e., KRW 455,484 = 2.2 billion x 5.71% per annum x 13 days.